Billion Dollar Building Developments Underway In Sydney

It is set to be a massive year for Sydney with Sydney’s chief planning body confirming $2.8 billion worth of building developments will be underway this year.

Lord Mayor Clover Moore told Sydney Media that some of the biggest developments such as the $660 million

AMP Circular Quay Precinct and $97 million stage-one campus of the University of Sydney master plan will create jobs and increase investment in the city.

Artist's impression of Quay Quarter Tower[/caption]“As these projects get underway or are completed they are helping create jobs in a range of industries, attracting new investors and businesses, and reinforcing our place as a global city,” Mr Moore said.

“This record year of private investment and development comes ahead of work beginning on the extension of the light rail network. The City has committed $220 million to this project, which will be the biggest change to Sydney’s transport in generations.

“The light rail project will give Sydney a world-class main street and support new flagship retail outlets, premium-grade office buildings, and cafés and outdoor dining. We’re already seeing businesses flock to George Street in anticipation of the benefits it will bring.”

Other anticipated major developments consist of a hotel-residential development on Kent Street costing $100 million and a residential building in Potts Point costing $50 million.

In south Sydney, developments costing $530 million are currently taking place in

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